Peter Gowers replaces Grant Hearn as Travelodge CEO

However, he does bring experience from travel and tourism market, having spent eight years at the InterContinental Hotels Group (IHG) where he was most recentlt chief executive, Asia-Pacific for IHG. There, he oversaw more than 250 hotels with more than $1.5bn in annual hotel turnover and 60,000 hotel employees.

Prior to being CEO of Asia-Pacific Peter was chief marketing officer of IHG from 2005-2007.

Brian Wallace, chairman of Travelodge, said of Gowers’ appointment: “Peter is a highly regarded senior executive, with extensive industry and market experience and expertise. His skills and knowledge will be a great asset in helping to further grow our business and to make Travelodge the best value hotel chain in the UK.

He added: “Since joining Travelodge in 2003, Grant has done a tremendous job in more than doubling the size of the company's portfolio and establishing the brand as a household name with an exceptional digital presence. Grant has built a remarkable team that, led by Peter, will now take the business on to even greater levels of success driven by meeting and exceeding guest expectations. On a personal level, I am extremely grateful for Grant's support since I became Chairman earlier this year.”

Hearn, who has served at CEO for seven years, will remain in the post for a further two weeks to assist the changeover, with Gowers set to take on his new role from 25 November.

The move comes as part of a £223m investment in refreshing the brand and growing the business. As part of the restructure, Initiative UK has been appointed to the company’s £15m media planning and buying account while the appointment of a creative agency is expected soon having begun the review process in September.